News Release

TUCSON, Ariz., Aug. 14, 2015 /PRNewswire/ -- The U.S. Missile Defense Agency awarded Raytheon Company (NYSE: RTN) a $9,775,608 competitive cost-plus-fixed-fee contract for a Multi-Object Kill Vehicle concept that can destroy several objects within a threat complex by considering advanced sensor, divert and attitude control and communication concepts.

"We fully support the Missile Defense Agency's goal of increasing the effectiveness and reliability of our homeland defense by exploring a wide range of capabilities against long-range ballistic missiles and using proven technologies combined with innovative designs," said Dr. Thomas Bussing, vice president of Advanced Missile Systems.

Raytheon will define critical functional aspects of the concept and propose risk mitigation activities by assessing the technical maturity of the concept, prioritizing and nominating risk reduction tasks for all critical components and describing how the tasks will reduce risk. In addition, a proof-of-concept prototype demonstration program will be defined.

The work will be performed in Tucson, AZ and Huntsville, AL, by Raytheon's Advanced Missiles product line with an estimated completion date of May 2016.

About RaytheonRaytheon Company, with 2014 sales of $23 billion and 61,000 employees worldwide, is a technology and innovation leader specializing in defense, civil government and cybersecurity markets throughout the world. With a history of innovation spanning 93 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cybersecurity and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit www.raytheon.com and follow us on Twitter @raytheon.